Student Loan Repayments

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Who Is My Loan Servicer?

  • Who is my loan servicer?

    There are a lot of student loan servicers in Michigan making it difficult to keep track of them all.

    VISIT NSLDS SITE

Types of Student Loans

Types of Student Loans

  • Types of Student Loans Intro

    The terms for different student loan programs, including amount, interest rate and repayment terms can vary greatly from program to program. It is important to be an educated borrower and review the terms of each program prior to accepting any loan funds. Federal student loans are administered through one of two federal loan programs - the Federal Direct Loan Program or the Federal Family Education Loan Program (FFELP). As of July 1, 2010, no new loans are available through FFELP.

MI-LOANs

MGA Loans

FFELP Loans

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Michigan Nursing Scholarship Repayment

  • Michigan Nursing Scholarship Repayment

    Recipients of the Michigan Nursing Scholarship who had their scholarship reverted to a loan because they did not fulfill the enrollment or work commitment can now make payments online.

    Paying online is quick, easy, secure and available to you 24 hours a day, seven days a week.

    Make a Payment

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Teacher Loan Forgiveness Program

Avoiding Student Loan Scams

Avoiding Student Loan Scams

  • Loan Default Scams

    BEWARE:  Many companies advertise debt relief services for student loan borrowers that promise to help eliminate or greatly reduce your debt or monthly payment AND CHARGE A FEE UP FRONT for their service.  They can’t deliver on all of their promises, and the services they can offer are often available elsewhere FREE OF CHARGE.  Experts in the field, such as the servicer, the U.S. Department of Education, or the guarantor of your loans, can offer advice and help you understand your options – WITHOUT CHARGING YOU A FEE. 

    If you signed a student loan agreement, you are responsible for making timely payment and providing up to date contact information to your lender and/or servicer.  If your loan(s) become delinquent to the point of default, you may be at risk of wage garnishment, offset of income tax refunds or other collection action.  If you are in a situation where you are struggling with your student loan repayment, the most important tool you have is communication. 

    Contact your loan holder to discuss what options you may have.